MICHAEL JAMES AXTON is currently employed as a Broker and/or Investment Adviser at CLIENT ONE SECURITIES LLC located at 541 Central Avenue, Suite B, Laurel, MS, 39440.
MICHAEL JAMES AXTON has worked at CLIENT ONE SECURITIES LLC since August 07, 2017
Disclosure History
MICHAEL JAMES AXTON has 3 Disclosure Event(s).
Date: June 30, 2017 Category: Employment Separation After Allegations Firm Name: Ameritas Investment Corp. Termination Type: Discharged Allegations: Terminated due to expired E&O Insurance Broker Comment: I was in the process of changing B/D to Client One. My E&O expired 6/30/2017. I was not going to pay for a year of coverage for the few weeks before terminating with AIC. AIC terminated me for lack of E&O coverage on 6/30/2017
Date: October 24, 2002 Category: Customer Dispute Allegations: APRIL 2002 MY CLIENT ASKED IF HE COULD PUT ADDITIONAL QUALIFIED MONEYS INTO A FIXED ANNUITY I HAD JUST SET UP FOR HIS 2002 SEP CONTRIBUTION. I CALLED AND ASKED IF THIS WAS OK AND WAS TOLD YES. [CUSTOMER] WANTED TO TRANSFER SOME FUNDS FROM PUTNAM FUNDS TO HIS AIG ANNUITY. WE COMPLETED THE FORM AS INSTRUCTED AND SENT THEMT O AIG. NOTHING HAD HAPPENED WHEN WE CHECKED BACK WITH THEM ABOUT TWO WEEKS LATER. IN THE MEANTIME THE ACCOINT BALANCE HAD DROPPED BY APPROXIMATELY $15,000. PUTNAM NEVER RECIEVED THE FORMS BECAUSE AIG DID NOT SEND THEM AS THEY ACTUALLY DID NOT ALLOW ADDITIONAL FUNDS INTO THE ANNUITY WE USED. THEIR POLICY IS TO RESPOND ALL TRANSFER REQUESTS WITHIN 48 HOURS OF RECEIPT BUT THEY DID NOT ACT ON THIS ONE IN ANY WAY. MY CLIENTS DID WANT TO INITIATE ANY LEGAL PROCEEDINGS BUT DID WANT TO BE COMPENSATED FOR HIS LOSS. I EXPLAINED I COULD NOT REIMBURSE HIM OUTSIDE OF THE PROPER CHANNELS. HE DID FINALLY FIND AN ATTORNEY WHO WOULD REPRESENT HIM. WE EVENTUALLY SETTLED OUT OF COURT WITH [CUSTOMER]. MY INSURANCE CARRIER PAID HALF AFTER I PAID THE DEDUCTIBLE AND AIG PAID HALF. [CUSTOMER] SUBSEQUENTLY BROUGHT THE SETTLEMENT CHECK BACK TO ME TO INVEST AS HE WAS IN MY OFFICE THE DAY I CALLED AND ASKED FOR INSTRUCTIONS AND NEVER FELT LIKE ANY OF THE INFORMATION I GAVE HIM WAS MISREPRESENTED. I HAVE COPIES OF THE INITIAL DOCUMENTATION FROM [CUSTOMER'S] ATTORNEY AND THE FINAL DISPOSITION. I WILL BE HAPPY TO PROVIDE ANY ADDITIONAL INFO YOU NEED. Damage Amount Requested: $15,000.00 Settlement Amount: $15,675.00
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